1.1.1 Why Businesses Exist

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  • Created by: Zruixx
  • Created on: 16-04-23 21:32
Why do Businesses Exist?
Businesses provide goods and services for a market
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How does a Business impact the country in which it operates?
- Businesses provide employment
- Businesses create new goods and services which can enhance the lives of its consumers
- Businesses can allow a country to improve and develop the country's reputation.
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What is the Transformation Process?
Businesses convert inputs into outputs to satisfy the needs and want of consumers and other businesses
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What are B2C Organisations?
Business to Consumer Organisations are businesses that sell their goods and services directly to consumers
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What are B2B Organisations?
Business to Business Organisations are businesses that sell their goods and services to other businesses
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What is a Primary Sector Business?
Primary Sector Businesses extract or grow raw materials such as fishing and mining.
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What is a Secondary Sector Business?
Secondary Sector Businesses manufacture goods using raw materials such as clothing.
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What is a Tertiary Sector Business?
Tertiary Sector Businesses provide services such as cinemas.
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Other cards in this set

Card 2

Front

How does a Business impact the country in which it operates?

Back

- Businesses provide employment
- Businesses create new goods and services which can enhance the lives of its consumers
- Businesses can allow a country to improve and develop the country's reputation.

Card 3

Front

What is the Transformation Process?

Back

Preview of the front of card 3

Card 4

Front

What are B2C Organisations?

Back

Preview of the front of card 4

Card 5

Front

What are B2B Organisations?

Back

Preview of the front of card 5
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